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it's very hard for romney to have a winning path without ohio. he would have to win some other state in the midwest like wisconsin, for example, or iowa, and then run the table in colorado and virginia and so forth. we go through all of the math and it seems complicated but the fact is that obama has been ahead in almost all of the polls in ohio by two or three points. that holds up more often than you would think. you have an 80% chance of winning the state if you have a lead into election. >> so much of your book focuses on the inability to plan accurately based on forecasts ranging from economic indicator to hurricane warnings. what's your take on this week, hurricane sandy and final jobs report? >> this was predicted very well, four or five days in advance they forecast it would barrel into southern new jersey as it does and have a very severe storm surge. it's a real triumph for science in some ways as well as a human tragedy. i think the jobs report on friday was a decent number as austan said, nothing game changing though. but you don't ha
it's very hard for romney to have a winning path without ohio. he would have to win some other state in the midwest like wisconsin, for example, or iowa, and then run the table in colorado and virginia and so forth. we go through all of the math and it seems complicated but the fact is that obama has been ahead in almost all of the polls in ohio by two or three points. that holds up more often than you would think. you have an 80% chance of winning the state if you have a lead into election....
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Nov 6, 2012
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i think if romney wins, and i've got my red elephant tie on, but i think if romney wins, we're going to see a 2% to 5% selloff by thanksgiving. i think if president obama's re-elected, we're going to have a much stronger rally in the short term and go to new highs for 2012 by year end. but i do agree the fundamental backdrop isn't as -- boy, this is the most disavowed bull market in history. everybody loves to hate it. the market trades fairly well. yeah, we've got some cracks beneath the surface, clearly, some sector leadership that's in question, but until we see liquidity being sucked out, until you see high-yield bonds roll over, until you see the nyse advance and the russell really take it on the chin, you have to side with the bulls over the intermediate term. >> let's not forget, to say it doesn't matter who's in the white house, a lot is at stake here. number one, health care. will it be repealed? will it stay in place? tax reform. what will that look like? will we see 43% tax rates for capital gains and dividends? we could see the next president seat three to the supreme cou
i think if romney wins, and i've got my red elephant tie on, but i think if romney wins, we're going to see a 2% to 5% selloff by thanksgiving. i think if president obama's re-elected, we're going to have a much stronger rally in the short term and go to new highs for 2012 by year end. but i do agree the fundamental backdrop isn't as -- boy, this is the most disavowed bull market in history. everybody loves to hate it. the market trades fairly well. yeah, we've got some cracks beneath the...
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Nov 2, 2012
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is it qe, or is it romney? are the effects of the weaker stock after the number, are they effects of a stronger dollar after the number really because of qe, or are they because not only do we potentially have a challenger that's close enough to win but if that challenger does win, what's to say to bernanke, what's to say to the fed, what's to say to qe, what's to say to the bye bauy backs? you can go either way on it. all these issues are making it difficult for investors who have a good hunch to necessarily bet a bunch. >> very interesting day. you make a lot of good points. jeff cox, what do you think? >> i want to piggy back on this theme of good news is bad news and maybe people are worried about bernanke is going to go to the basement of the fed and pull the plug on the printing press. if investors out there are concerned that we do stop the qe train and it might get in the way of market rally, let me offer something for them. i've been crunching the numbers on the jobs report all day. the thing that stoo
is it qe, or is it romney? are the effects of the weaker stock after the number, are they effects of a stronger dollar after the number really because of qe, or are they because not only do we potentially have a challenger that's close enough to win but if that challenger does win, what's to say to bernanke, what's to say to the fed, what's to say to qe, what's to say to the bye bauy backs? you can go either way on it. all these issues are making it difficult for investors who have a good hunch...
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Nov 2, 2012
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because of this election, if we see romney elected, we'll see oil prices drop. you'll see energy prices drop. that might be a buying opportunity at that point. other than that, i really believe we have to just take a look and see attitude right now. >> well, one of our guests, a regular on this program, had a great idea. he said to me, maybe for one month the fed instead of putting that $40 billion of mortgage-backed securities buying, put that on hold and send it to some of the ravaged areas like staten island, like new jersey. >> i love it. i absolutely love that idea. >> i do too. >> then the fed's crossing the line into fiscal policy and out of the realm of monetary policy. >> where are we going to get it? >> fema responds rather adroitly to -- katrina notwithstanding, to these disasters. i suspect they're going to be quite responsive right now for those who have been displaced, who have lost family members, who don't have homes. i think there will be a rapid response from the federal government. >> i'm just saying, we could use that money in other areas rig
because of this election, if we see romney elected, we'll see oil prices drop. you'll see energy prices drop. that might be a buying opportunity at that point. other than that, i really believe we have to just take a look and see attitude right now. >> well, one of our guests, a regular on this program, had a great idea. he said to me, maybe for one month the fed instead of putting that $40 billion of mortgage-backed securities buying, put that on hold and send it to some of the ravaged...
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if we saw a romney victory. from ourve, if you want to look at what you emphasize, tradeable themes on the republican side and democratic side. if you wanted to play tradeable themes on republican side for a romney victory, clearly you're looking at defense, energy, potentially you're looking at some of the finance sectors. on the democratic side, if president obama prevails, i think the themes you'd be playing are alternative energy, selectively health care and infrastructure. the themes are there. i just think the macro picture is really positive around the globe. improving china, a little softer condition and background in europe politically. and i think improving conditions here in the u.s. for the consumer and for manufacturing and for gdp in general. our general background is pretty positive. >> great points there. sandy, what about you? you say regardless of who wins the election, the fiscal cliff would be either downsized or deferred. what does that mean? >> well, i think downsizing is more likely. have
if we saw a romney victory. from ourve, if you want to look at what you emphasize, tradeable themes on the republican side and democratic side. if you wanted to play tradeable themes on republican side for a romney victory, clearly you're looking at defense, energy, potentially you're looking at some of the finance sectors. on the democratic side, if president obama prevails, i think the themes you'd be playing are alternative energy, selectively health care and infrastructure. the themes are...
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Nov 5, 2012
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i can't give you one for romney. the high defensive lend paying stocks, the anticipated tax change will happen for sure. >> it seems like among the possible scenarios in the event of an obama re-election it seems like a no-brainer. >> yep. >> what if the governor wins as a challenger? we had barry knapp suggest long sorj, tech, that kind of thing. >> i don't think there is one for the equity markets. the one i gave you is the only one for sure. don't expect volatile any the stock market. i don't think we'll get it. >> a lot of shout
i can't give you one for romney. the high defensive lend paying stocks, the anticipated tax change will happen for sure. >> it seems like among the possible scenarios in the event of an obama re-election it seems like a no-brainer. >> yep. >> what if the governor wins as a challenger? we had barry knapp suggest long sorj, tech, that kind of thing. >> i don't think there is one for the equity markets. the one i gave you is the only one for sure. don't expect volatile any...
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Nov 2, 2012
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and then we'll get reaction from the romney campaign with ron hubbard. that's at 8:40 eastern time. obviously a lot on our plates today. andrew, i'll send it over to you. >> the coast guard opening the port of new york new jersey on a restricted basis today allowing the backlog of barges containing gasoline and fuel into the area for the first time. how soon, however, will we see relief in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my way in today, i had to take a taxicab for $125 because jeeves was this line to get gas, he was out of gas. >> i tried to take a car, my guy who i call -- he is not, but he nights as well be a former -- he has never failed. on on tuesday he came. and there have been snowstorms in the past where we've gone off the road, around, jack moved tractor trailers to get here's couldn't get gas. and so then i had to use -- i had a certain amount left in reserve. my gas tank is locked because people are siphoning now. >> it happened to one of our producers. >> there are people with guns. first 12 lines have to to
and then we'll get reaction from the romney campaign with ron hubbard. that's at 8:40 eastern time. obviously a lot on our plates today. andrew, i'll send it over to you. >> the coast guard opening the port of new york new jersey on a restricted basis today allowing the backlog of barges containing gasoline and fuel into the area for the first time. how soon, however, will we see relief in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my...
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Nov 6, 2012
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romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our guests this morning, house majority leader eric cantor, and then private equity pioneer and obama supporter alan patricof, outspoken republican ken langone, don peebls, and one of bush's right hand many, larry lindsey will be joining us. and then later today, a very special afternoon edition of "squawk box," we'll pick up election day coverage again at 5:00 p.m. so if you're sticking with us now, stick with us all day and the cnbc team will continue throughout the evening. of course you can take part in all of this by tweeting us and following our coverage, at cnbc 2012 is the handle. mr. kernen. >> let's get the conversation started. chief washington corres
romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our guests this morning, house majority leader eric cantor, and then private equity pioneer and obama supporter alan patricof, outspoken republican ken...
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Nov 2, 2012
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romney makes a point. i don't think romney's saying get rid of fema. i didn't hear that. romney makes a point the governors and mayors and whatever, the town councilmen, they know best how to get things done. why are they losing their power? why is fema and the federal government getting so much more power? >> well, it's its own kind of flood isn't it, larry? we say this is the new normal. higher water, federal spending. we have another emergency and raise the water again. we're up to federal spending now that's far beyond what we had traditionally, right? not just 15% or 18%. not 20% but more. so we get in the habit that that's part of it. and one of the things i have been looking at lately, what that does to the mood of the city, if you want to pull it psychologically, larry, to the fear part of the brain. are we safe? rather than to the opportunity part of the brain, what can we do? we get in a situation whereas now we think only about the bad side of this event and going to take a very long time to get to the opportunity. >> look, natural disasters are not new. we did
romney makes a point. i don't think romney's saying get rid of fema. i didn't hear that. romney makes a point the governors and mayors and whatever, the town councilmen, they know best how to get things done. why are they losing their power? why is fema and the federal government getting so much more power? >> well, it's its own kind of flood isn't it, larry? we say this is the new normal. higher water, federal spending. we have another emergency and raise the water again. we're up to...
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romney. if that's the case -- >> you think romney wins -- >> i do. >> -- that will be a surprise and this market rallies on that win? >> i think the market rallies big. there will be a lot of money in motion. people will be moving on with decision-making. there's trillions of dollars just waiting for confirmation for a new course. >> todd, what do you think's going on right now? what do you think is going to happen tomorrow? >> well, you know, just -- i'm just going off historic returns. when a democrat wins market goes down, average 9.3%. if a republican wins they'll greet the market with buying. and that's usually the day after. but as far as next two days, i think we're going to see very similar tape that we've seen today. the good news is, i think we get beyond that uncertainty. the week of election usually shows positive returns overall regardless if it's a democrat or republican that wins. and then we go on to a very favorable seasonal period for the market, the month of november, decem
romney. if that's the case -- >> you think romney wins -- >> i do. >> -- that will be a surprise and this market rallies on that win? >> i think the market rallies big. there will be a lot of money in motion. people will be moving on with decision-making. there's trillions of dollars just waiting for confirmation for a new course. >> todd, what do you think's going on right now? what do you think is going to happen tomorrow? >> well, you know, just -- i'm...
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Nov 28, 2012
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if romney chooses to help with this endeavor, he could make some difference. not a huge amount but some. >> thank you for joining us for the latest. new developments on the insider trading investigation surrounding s.a.c. capital. the firm hold be an investor call just a short time ago. kate? >> the headline coming out of this s.a.c. phone call this morning with investors which lasted about a half an hour was that s.a.c. has been informed by the s.e.c. by a wells notice that it may as a parent company face civil charges in connection with the latest case against former trader mathew martoma and subsidiary of s.a.c. that he worked for. it's a heads-up from s.e.c. enforcement staff that they are recommending that the s.e.c. as an agency file these charges against the firm. that won't be made official until the full s.e.c. commission votes on this and it's not clear how soon that may happen. a wells notice and charges that it often is followed by can be tough for a firm to handle. it's just a negative precedent for companies and has always been in the past. howev
if romney chooses to help with this endeavor, he could make some difference. not a huge amount but some. >> thank you for joining us for the latest. new developments on the insider trading investigation surrounding s.a.c. capital. the firm hold be an investor call just a short time ago. kate? >> the headline coming out of this s.a.c. phone call this morning with investors which lasted about a half an hour was that s.a.c. has been informed by the s.e.c. by a wells notice that it may...
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there's just not enough -- >> favor romney. >> i mean favor romney. there's not enough white men out there to swing romney. that's how i feel. >> the journal points out today they think the end of the election is a win for the markets no matter what happens because it takes some uncertainty off the table. what do you two think? >> i totally agree. i feel like we are beleaguered by the election. i would love to go back to fundamentals and worry about greece. >> do you think we'll talk about the fiscal cliff wednesday morning? >> i think that a resolution will enable one party to be able to blink, i hope, or at least be able to say, look, we have to come together. the fiscal cliff is one that is -- i keep thinking it's much more of a fiscal hill that's been the new slope. anything that says, okay, look some party is in jeopardy or some people is in jeopardy will make somebody blink. i think we're a great country and that we'll solve this. >> guys, we'll see you in a few minutes coming up at the top of the hour. thank you. >>> coming up, the last word fr
there's just not enough -- >> favor romney. >> i mean favor romney. there's not enough white men out there to swing romney. that's how i feel. >> the journal points out today they think the end of the election is a win for the markets no matter what happens because it takes some uncertainty off the table. what do you two think? >> i totally agree. i feel like we are beleaguered by the election. i would love to go back to fundamentals and worry about greece. >> do...
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Nov 21, 2012
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on this desk we were talking ahead of the first debate and said they would pop based on maybe mitt romney talking about coal in a kinder light. >> you said that. >> is that what happened? it popped 44% in about 18 days. we're grateful for that. >> guy? >> i'm grateful for you folks watching this show coming in our sixth year anniversary. >> is it six years? holy cow. holy turkey. >> netflix we had this thing on the way up. we said short it. they reported earnings around halloween. we said here is a huge opportunity. and then we said it is headed to 84. check out the high today. it has been a great trading stock. >> do you think icon is going to do something? >> does something all the time. >> with netflix in terms of the game plan. >> call him up on the icon phone. don't ask me. >> tim? >> i'm thankful for turkey and i do mean the country turkey. it is a nice time -- >> you can't make this up. >> turkey is up 40%. it is the best emerging market upgraded. i don't know what is going on because i'm trying to stay focused here. >> you have to look at the screen. it is amazing. >> seeing treme
on this desk we were talking ahead of the first debate and said they would pop based on maybe mitt romney talking about coal in a kinder light. >> you said that. >> is that what happened? it popped 44% in about 18 days. we're grateful for that. >> guy? >> i'm grateful for you folks watching this show coming in our sixth year anniversary. >> is it six years? holy cow. holy turkey. >> netflix we had this thing on the way up. we said short it. they reported...
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why romney? >> i think the current administration has not had the right policies to grow the economy and bring down the unemployment level to an acceptable level below 6%. i think romney will have different policies and that will grow the economy at a higher rate. >> realistically, what could he do, dick, when you bear in mind the roadblock that any president faces when you have the kind of makeup and temperament of a congress that we've had for the last several years here? >> well, i think it's all about policies, not politics. i think whoever is elected, i think what they should do is the following. they should recognize that the partisanship and polarization is here. it's not going to change. no one is going to convince the republicans to vote with the democrats and vice versa. there has to be a compromise. there has to be a consensus. >> amen to that. >> here's how i -- >> you don't get that these days. >> here's how i think you can accomplish it. i think you start with a bipartisan approach.
why romney? >> i think the current administration has not had the right policies to grow the economy and bring down the unemployment level to an acceptable level below 6%. i think romney will have different policies and that will grow the economy at a higher rate. >> realistically, what could he do, dick, when you bear in mind the roadblock that any president faces when you have the kind of makeup and temperament of a congress that we've had for the last several years here? >>...
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Nov 7, 2012
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what he did was doggedly point out what mitt romney did at bain and mitt romney's policies for the middle class. he opposed the auto bailout. he opposes more equitable tax policy where millionaires and billionaires would pay their fair share. >> let's not start with the talking points. let's have a conversation here. talking points is not anything anyone has interest in. john, was it a mistake for romney to use his credential? >> i don't think that was a mistake. i think he made a mistake in how he sold it. people become wealthy in this country, we used to champion them. today we vilify them. despite what your other guest said, the president was certainly part of the 1% vilification. the way a person becomes wealthy in america is having an entrepreneurial dream and serving other people well. if you serve customers well in america, you can become wealthy. we used to think that was a good thing during this election cycle with a president leading the way it was vilified. it's outrageous and should stop. >> the vilifying really has to stop already. there's an american dream and an aspirationa
what he did was doggedly point out what mitt romney did at bain and mitt romney's policies for the middle class. he opposed the auto bailout. he opposes more equitable tax policy where millionaires and billionaires would pay their fair share. >> let's not start with the talking points. let's have a conversation here. talking points is not anything anyone has interest in. john, was it a mistake for romney to use his credential? >> i don't think that was a mistake. i think he made a...
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Nov 8, 2012
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>> you don't have to imagine that. >> the poor kid that's romney. >> good point. up next, "fast money" digs into america's quest for energy independence. can the u.s. free itself from foreign oil and how much will it cost? devon energy is helping us break down the facts ant what it will take to get us there. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> welcome back. we are live at the nasdaq market site in times square. a hot topic on the road to the white house with president obama highlighting his first term's policy throughout his campaign. >> here's what i have done since i have been president. we have increased oil production to the highest levels in 16 years. natural gas production is the highest it's been in decades. >> obviously it doesn't stop there. the president spoke a
>> you don't have to imagine that. >> the poor kid that's romney. >> good point. up next, "fast money" digs into america's quest for energy independence. can the u.s. free itself from foreign oil and how much will it cost? devon energy is helping us break down the facts ant what it will take to get us there. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy....
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Nov 6, 2012
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give everything else to mitt romney. florida, nu/"carolina, virginia, iowa, colorado, nevada -- which is tough for romney. we get to 269-269. then it goes to congress. the house of representatives picks the president. we have a republican house and will have one after this election. that means mitt romney assuming no elector defects to one side or the other. the house of representatives would elect mitt romney president. but the senate elects the vice president. that means joe biden could serve with mitt romney. crazy and i don't expect it to happen. but not beyond the realm of possibility. >> you have biden in cleveland, romney there, too. is that a lack of confidence in ohio? >> i think that suggests a determination not to relax on the final day. the president will do media interviews from home in chicago. mitt romney is out on the stump. i think so is paul ryan for that matter. joe biden is ensuring the democrats aren't leaving anything set in ohio unanswered. >> john, thanks so much. going to be a long night. we'll l
give everything else to mitt romney. florida, nu/"carolina, virginia, iowa, colorado, nevada -- which is tough for romney. we get to 269-269. then it goes to congress. the house of representatives picks the president. we have a republican house and will have one after this election. that means mitt romney assuming no elector defects to one side or the other. the house of representatives would elect mitt romney president. but the senate elects the vice president. that means joe biden could...
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Nov 8, 2012
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if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my question is let's say that it's not a bungee, let's say it's a rope. so you jump and then you -- that would be like hanging yourself. but you do possibly survive. but then you're all the way down there and then you don't know when someone's going to pull you back up. i think it might be more like that. if we go down, we may be d dangling for a while. >> once we go over the cliff, it's much more complicated. and you get rope burns, too. >> you can it. well, that's if it's not stretchy and it's just a rope,s's more than a burn. the
if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to...
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you have some risks under romney. he would appoint a more cautious central bank governor to come in 2014. you also have i think a little more recognition on the obama side that while spending does need to be reined in over the coming decade, that you want to do it carefully enough that you don't walk into what the europeans found, which is too deep a tightening for the economy to bear. and remember that on the republican side, you have a number of very strong small government proponents within the republican party who didn't think that government spending created any jobs and presumably believe that deep cuts won't cost any jobs. >> avery, you mentioned ben bernanke and the policies that an obama presidency would keep in place because it would assure that ben bernanke is still the fed chairman. and that presumes, though, that the policy of keeping interest rates so low is in fact encouraging of an economy that is growing. i mean, do you think it does have that sort of impact where you can say that particular plank of
you have some risks under romney. he would appoint a more cautious central bank governor to come in 2014. you also have i think a little more recognition on the obama side that while spending does need to be reined in over the coming decade, that you want to do it carefully enough that you don't walk into what the europeans found, which is too deep a tightening for the economy to bear. and remember that on the republican side, you have a number of very strong small government proponents within...
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one loyal romney fan, eric heartsford got a mitt romney logo tattooed on his face. he has no regrets. >> that's fantastic. >> that's disturbing. >> painful but good look. >>> deal or no deal? find out how smart money is preparing for possible show down on fiscal cliff. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to indep
one loyal romney fan, eric heartsford got a mitt romney logo tattooed on his face. he has no regrets. >> that's fantastic. >> that's disturbing. >> painful but good look. >>> deal or no deal? find out how smart money is preparing for possible show down on fiscal cliff. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#:...
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Nov 7, 2012
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mitt romney and paul ryan are good men. they're good leaders. i want to wish mitt, ann, paul, and janna and their families well. the american people have spoken. they've re-elected president obama, and they've again re-elected a republican majority in the house of representatives. if there's a mandate in yesterday's results, it's a mandate for us to find a way to work together on the solutions to the challenges that we all face as a nation. my message today is not one of confrontation but one of conviction. in the weeks and months ahead, we face a series of tremendous challenges and great opportunity. just weeks away from now looms the so-called fiscal cliff, a combination of automatic spending cuts and tax increases mandated by law. within months of the fiscal cliff, congress will be asked to raise the nation's debt ceiling. around the same time, legislation will be needed to keep the government running as a continuing resolution under which we're currently operating expires. amid all of these short-term hurdles, we face the greatest challenge
mitt romney and paul ryan are good men. they're good leaders. i want to wish mitt, ann, paul, and janna and their families well. the american people have spoken. they've re-elected president obama, and they've again re-elected a republican majority in the house of representatives. if there's a mandate in yesterday's results, it's a mandate for us to find a way to work together on the solutions to the challenges that we all face as a nation. my message today is not one of confrontation but one...
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Nov 9, 2012
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romney was not in favor of any more revenues and romney debunked that and said, look, we're in favor of revenues, and i think he was largely speaking for the republican party at that point. we're in favor of more revenues. the ryan budget, for example, had revenue assumptions in it. so i think what's got to happen is that both sides have to let the other team take a victory lap. let republicans come into this debate where we keep tax rates low and reasonable and predictable and drive toward tax reform next year. democrats can come into the debate and claim a victory and say, well, we're interested in more revenues. the key is, can we get to these underlying situations and that is entitlement reform. that's where the action is. >> okay. but how realistic is it to postpone or extend everything for a year? as i understand it, this was in the "wall street journal" editorial page this morning and i've heard this elsewhere, that mr. boehner would like to just extend the tax cuts and i don't know what you all are going to do about spending. nobody ever wants to cut spending. is that realist
romney was not in favor of any more revenues and romney debunked that and said, look, we're in favor of revenues, and i think he was largely speaking for the republican party at that point. we're in favor of more revenues. the ryan budget, for example, had revenue assumptions in it. so i think what's got to happen is that both sides have to let the other team take a victory lap. let republicans come into this debate where we keep tax rates low and reasonable and predictable and drive toward tax...
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Nov 7, 2012
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there was a hope with romney it would not. only one-third of the regulations have been put in place. nobody believes the next two-thirds of the regulations will be helpful to banks and financials. i look at the economy going forward. i see no real catalyst for organic growth. i think the money center of banks have had a good run year to date. i suggest people take profits. i suggest people be conservative in their investments, not aggressive. i think we are in a grind it out economy much like the 1970s. i want to focus on needs, not wants, companies that have bulletproof balance sheets that pay you to own them. i think it is better to be conservative versus aggressive. >> like what? big selloffs in the names like bank of america, jpmorgan today. anything out there worth picking up? >> if you're looking at financials, select regional banks. they're not down as much. a lot of the money center banks are down 6%, 7%. the canadian banks are down between 1% and 2%. companies like j&j and intel are not down as much. i think this is s
there was a hope with romney it would not. only one-third of the regulations have been put in place. nobody believes the next two-thirds of the regulations will be helpful to banks and financials. i look at the economy going forward. i see no real catalyst for organic growth. i think the money center of banks have had a good run year to date. i suggest people take profits. i suggest people be conservative in their investments, not aggressive. i think we are in a grind it out economy much like...
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Nov 13, 2012
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just because it was a romney idea, does it make a bad idea? >> no, i'm not saying that anything that romney proposed is a bad idea. i'm saying that it is a fact that he proposed ideas without giving any details. we haven't even really heard any of the specifics behind this particular plan, not to mention the fact that voters voted for $250,000 and above for their tax rates to go up. i think that it's not on obama. it's on republicans in congress to make concessions to get to a compromise on this deal. >> all right. well, we'll wait to see what happens. >> yes, we will. >> wait for that white puff of spoke to come out of the capitol building at some point. >> thank you so much. appreciate it. the market has turned negative. >> this may end up being the biggest video game of all time, maria tells me. activision's "call of duty: black ops 2" is set to blow up the competition. is it the best play in the video game stock? we'll talk about that. >>> and what was behind the latest glitch in the stock market on monday? and how about the fiscal cliff?
just because it was a romney idea, does it make a bad idea? >> no, i'm not saying that anything that romney proposed is a bad idea. i'm saying that it is a fact that he proposed ideas without giving any details. we haven't even really heard any of the specifics behind this particular plan, not to mention the fact that voters voted for $250,000 and above for their tax rates to go up. i think that it's not on obama. it's on republicans in congress to make concessions to get to a compromise...
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Nov 5, 2012
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romney -- or governor romney. that's an interpretation. the problem i have with these interpretations is they don't usually stack up to make an argument. dollar index has been up four days in a row. if an obama victory was more likely, and for example, easing was more likely, you'd think the dollar index would be down. i have a little problem with interpretation. my thought here is the fiscal cliff issues. i think they're going to get resolved quicker than people think. i think they'll extend the tax cuts into next year, through next year. that's my bet. i think you're going to see a rally going into the end of the year in the stock market. the one thing, dear heavens, let's not have, is an election where we don't have a clear victor for weeks and weeks on end. >> i think that could be very damaging. >> remember the hanging chads? >> oh, please. absolutely. >> i was here on the floor and the stock market went straight down from the election in november 2000 into the middle of december. it went down almost nth%. >> no one wants that. they w
romney -- or governor romney. that's an interpretation. the problem i have with these interpretations is they don't usually stack up to make an argument. dollar index has been up four days in a row. if an obama victory was more likely, and for example, easing was more likely, you'd think the dollar index would be down. i have a little problem with interpretation. my thought here is the fiscal cliff issues. i think they're going to get resolved quicker than people think. i think they'll extend...
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Nov 9, 2012
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. >> joe, neither you nor i are as rich as governor romney so we can't bet $10,000 but i bet $1. >> wait a second. that's a cheap shot and i am nowhere near as rich but i'll bet you, i don't have to double what you're worth to get to romney. >> i don't -- >> see! >> ralph we cut you off before, you said there were three bs, the first was big, the second was balance. >> the second was balance between taxes and here again, let's talk a little bit about balance first, okay? because you have this massive schism between what's balanced. if you look at 2:1 or 3:1 or 4:1. >> in terms of spending cuts versus revenue raised. >> spending cuts versus revenue raised, 2:1 to 3:1, sounds like a massive gap. if it's 2:1, it's two-thirds expense reductions and one-third tax increases. if it's 3:1, it's 75/25. the difference between those two is less than 8%. 8% of $4 trillion is $320 billion over ten years. that's $32 billion a year out of a $3.5 trillion plus budget. it is less than 1%. so we're talking about less than 1% of the budget. >> but it's being able to claim victory so how do you get both sid
. >> joe, neither you nor i are as rich as governor romney so we can't bet $10,000 but i bet $1. >> wait a second. that's a cheap shot and i am nowhere near as rich but i'll bet you, i don't have to double what you're worth to get to romney. >> i don't -- >> see! >> ralph we cut you off before, you said there were three bs, the first was big, the second was balance. >> the second was balance between taxes and here again, let's talk a little bit about balance...
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Nov 7, 2012
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cnbc's proprietary indices that benefit from romney or obama win show the romney index down by more than 4%, 4.5%. look at this. the obama index. in this day, a massive selloff, it is higher. investors seem surprised by the and two months ago. >> a romney victory would have had 100 points in the s&p and probably a 15-point decline. >> wow. leon cooperman, is that a good prediction? is the presidency the reason we're dropping? let's bring in joe terranova, josh brown to find out. gentlemen, at least that's what i presume you are, is this really an obama selloff or is this the market rally and what is the reason now? >> what the reason is, what the outcome is going to be, really? it doesn't matter. what should matter is what should have happened today. this company is deficient in commonsense at some point this morning the speaker of the house, the president should have walked into a room and said the fiscal cliff that everyone is worried about, we're going to get it done, walk out of the room if they did that, the s&p is unchanged on the day. >> you have so much hope and cynicism. >> afte
cnbc's proprietary indices that benefit from romney or obama win show the romney index down by more than 4%, 4.5%. look at this. the obama index. in this day, a massive selloff, it is higher. investors seem surprised by the and two months ago. >> a romney victory would have had 100 points in the s&p and probably a 15-point decline. >> wow. leon cooperman, is that a good prediction? is the presidency the reason we're dropping? let's bring in joe terranova, josh brown to find out....
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Nov 1, 2012
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can the romney boubs many coal continue? >> it can. think about how far these stocks came down. they were completely obliterated and traded as if they were never going to recover. once we have that first debate where governor romney spoke to the coal name, they've been in rally mode here and now, i think people are realizing regardless if it's a romney victory or obama victory, you're going to see coal recover. i think the upside in coal continues. >> there's been a nat gas relation? >> a lot of people are focusing away from the shift from that gas, away from coal to nat gas and now saying maybe there will be some shifting if nat gas breaks above four, maybe back to coal. i believe you can be long coal and also long the nat gas. >> all right. well, we continue to monitor the gas shortage gripping the new york metro area. really, the try state area. the squeeze sending ripple affect throughout the region. jackie deangelis has been monitoring this closely and is also the host of a new online show on cnbc.com called "futures now." >> long wait times at gas stations across the new y
can the romney boubs many coal continue? >> it can. think about how far these stocks came down. they were completely obliterated and traded as if they were never going to recover. once we have that first debate where governor romney spoke to the coal name, they've been in rally mode here and now, i think people are realizing regardless if it's a romney victory or obama victory, you're going to see coal recover. i think the upside in coal continues. >> there's been a nat gas...
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Nov 8, 2012
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he can be not mitt romney for four years since he was attacking mitt romney personally, and they put forward in the ryan plan, a budget reform, a titlement reform and tax reform and they were elected on policy and not on personal attacks. >> i'm going to run out of time here. we have a thing here on cnbc called rise above and we have pins trying to get politicians to put their partisans concerns aside, if we send you one will you wear it? ? americans are nonpartisan. we would hope that people of both parties would support people, and yes. >> i'll take it as a yes. >> okay. >> the pin's in the mail, grover. thanks so much. we'll we'll see you later. grover norquist in washington. with the election in the books it does appear dodd-frank is here to stay. we'll ask mike mayo in just a moment. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoposis-related bone fractur and w magnesium levels have bn seenith nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor
he can be not mitt romney for four years since he was attacking mitt romney personally, and they put forward in the ryan plan, a budget reform, a titlement reform and tax reform and they were elected on policy and not on personal attacks. >> i'm going to run out of time here. we have a thing here on cnbc called rise above and we have pins trying to get politicians to put their partisans concerns aside, if we send you one will you wear it? ? americans are nonpartisan. we would hope that...
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Nov 13, 2012
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democrats like a romney idea. >> did you see paul ryan's comment? >> no. but i got my button back on because i'm -- i'm going to tell that you rise above is kind of like a rorschach thing. because for me, rise above means democrats rising above the obsession with rates and realizing broadening the bates is better -- >> it means coming together. >> that is a way of coming together. you're raising revenue. your only way is if the republicans say yes -- >> no, that is not true. my way is anyway you come up with an agreement is a great way. you're only looking from one side of the aisle. >> but they'll never agree to raising rates about sfw. >> i will give you that it is a error sha rorschach test, but i want you to actually cut some things and i want you to deal with expenditures. >> you have the same house that said no to 39.6 on the high he said. but a way of raising revenue will spur growth -- they're coming around to the correct version right here. >> what about the idea democrats say we will take on the social issues, we will take on makinging sure that
democrats like a romney idea. >> did you see paul ryan's comment? >> no. but i got my button back on because i'm -- i'm going to tell that you rise above is kind of like a rorschach thing. because for me, rise above means democrats rising above the obsession with rates and realizing broadening the bates is better -- >> it means coming together. >> that is a way of coming together. you're raising revenue. your only way is if the republicans say yes -- >> no, that is...
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Nov 8, 2012
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that compared to mitt romney's 27%. there is a demographic sea change happening, and the republicans failed to see it coming. here now is cnbc contributor sarah fagan, republican strategist and polling expert. sarah, i don't know how you see this, but all i can say is with those kinds of numbers, a 40 percentage point spread, right there that could have been the election. particularly when you get to key battleground states. if republicans don't change this, they're never going to win a national election. >> they're never going to win a national election and we're never going to have a governing majority ever in this country. you're right, larry, this is a real challenge for the party. and one of the benefits of losing by such a large margin is i think people will finally stop and focus on the fact we have to do something about it. we have known this is a problem for many years. people have been talking about it. but i think you'll start to see action. >> but the language is too harsh. the border language is -- everybod
that compared to mitt romney's 27%. there is a demographic sea change happening, and the republicans failed to see it coming. here now is cnbc contributor sarah fagan, republican strategist and polling expert. sarah, i don't know how you see this, but all i can say is with those kinds of numbers, a 40 percentage point spread, right there that could have been the election. particularly when you get to key battleground states. if republicans don't change this, they're never going to win a...
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Nov 30, 2012
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everybody has their chair except mitt romney. plus you have a forcing mechani mechanism, the fiscal cliff. congress needs forcing mechanisms to act. plus, both with the president and speaker they have a reason to reach ain't agreement. political reason. the speaker it is because he knows republicans will take the hit if we go over the cliff. that's the way it is. the president has the microphone. and the president -- cane believe he wants to start the presidency out with a recession. i mean, this -- next term. so there -- i think there is a genuine identity of interest. i think at some point, maybe -- hopefully sooner rather than later, that it is later. they go in a room and sit down and they work off their framework they had would years ago and -- they reach an agreement. >> you know -- i would like -- >> basically simpson-bowles, i hope. >> i would like to think that's what happens. but -- you see where some of the starting points are here. it doesn't seem like it is -- any way reaching towards that sort of agreement. especial
everybody has their chair except mitt romney. plus you have a forcing mechani mechanism, the fiscal cliff. congress needs forcing mechanisms to act. plus, both with the president and speaker they have a reason to reach ain't agreement. political reason. the speaker it is because he knows republicans will take the hit if we go over the cliff. that's the way it is. the president has the microphone. and the president -- cane believe he wants to start the presidency out with a recession. i mean,...
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Nov 9, 2012
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that's why the president's having it and that's why mitt romney's tax plan didn't go anywhere, because nobody can understand it. >> let me weigh in on that. i think what you're saying, brian, is actually very important in the following sense. it's really easy to say clean up the code, broaden the base, get rid of those nasty deductions and loopholes. every single deduction and loophole is somebody's treasure job creation program. it is true it is cleaner -- a majority of the public from the exit polls to support the sunset of of the top rates. president won. too often these discussions are like, okay, mr. president, you won, here is our list of demands. >> but 230 house members won, also. this is exactly what i am talking about. i go back to your intro, brian. how about never say never again on some of these? >> nice. you actually listened! you're the one, tony. >> i'm not the one. we're all the one. right? everybody has their own thing that they want to protect. the president is -- are entitlements going to be a part of it and will health care entitlements be a part of it? >> let me p
that's why the president's having it and that's why mitt romney's tax plan didn't go anywhere, because nobody can understand it. >> let me weigh in on that. i think what you're saying, brian, is actually very important in the following sense. it's really easy to say clean up the code, broaden the base, get rid of those nasty deductions and loopholes. every single deduction and loophole is somebody's treasure job creation program. it is true it is cleaner -- a majority of the public from...
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Nov 7, 2012
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romney. >> i was kidding, scott. i said it's not just hamilton county. it's actually my street. gayle collins lived up here and i lived like eight houses down. it was actually that street. it's unbelievable, though, that it was hamilton county again. but cincinnati is one of the most traditionally conservative places, scott. and that's very telling right there, that couldn't even carry hamilton county. and that's all she wrote. >> that's right. >> in the end, really all it did was preserve ohio's bellwether status. >> it's interesting, i saw some of the exit poll information yesterday, where something like 30 something percent of people said they were conservative, maybe 33%, maybe 35% of people. 27 or 29% of people identified themselves as liberals. more than 30% of the people who were coming out of those exit polls identified themselves as moderates. and that was the question, is where those moderates were going to fall. i guess that answered a big part of question. >> reporter: joe, you kn
romney. >> i was kidding, scott. i said it's not just hamilton county. it's actually my street. gayle collins lived up here and i lived like eight houses down. it was actually that street. it's unbelievable, though, that it was hamilton county again. but cincinnati is one of the most traditionally conservative places, scott. and that's very telling right there, that couldn't even carry hamilton county. and that's all she wrote. >> that's right. >> in the end, really all it did...
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Nov 26, 2012
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romney was going to win the election. i have been wrong in the past and i can be wrong again. >> that is a big man to admit that. i am interested in how you are trading this. last week we had the embassies up 3% to 4%. is the optimism to get a deal done priced in? >> there is a good deal priced in. i was impressed the market came off of the bottom as far as it did. monday of last week we ran up against the trend line. we shouldn't be surprised by correction. if we can hold here for another day or two my guess is we go higher in equities. that is what a resolution will be strong for the equities market. some will say it will be bearish for the bond market. a lot of my friends have tried to sell the bond market short for three years and it has never worked. it will be supportive for equities. it is probably also supportive for raw materials, copper may be something to take a look at. >> take a look, then. good to see you on cnbc. >>> sometimes our traders hit it right out of the park and sometimes they swing and miss. let's
romney was going to win the election. i have been wrong in the past and i can be wrong again. >> that is a big man to admit that. i am interested in how you are trading this. last week we had the embassies up 3% to 4%. is the optimism to get a deal done priced in? >> there is a good deal priced in. i was impressed the market came off of the bottom as far as it did. monday of last week we ran up against the trend line. we shouldn't be surprised by correction. if we can hold here for...
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Nov 6, 2012
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mitt romney will do some as well. he'll also do stops at the end both in the state of ohio and in the state of pennsylvania where he's made a late play. he explained in an interview last night on "monday night football" that the grind of his schedule in closing days has made him more energized. >> so what i found that surprised me is more events i did, the more energy i seemed to get. more passion from the people. their desire for change if you will gives me more energy and more commitment to the process. i came away at the end of the day instead of being exhausted, i had a hard time falling asleep. >> president obama has taken a similar approach to going on "monday night football" and giving his final message. it reflected the discipline of his campaign operation. he said you can't get too far up or too far down on daily developments. you have to stay focused on your task. here's the president. >> it has to do with staying focused and it has to do with not getting distracted by your own hype or the critics. >> that i
mitt romney will do some as well. he'll also do stops at the end both in the state of ohio and in the state of pennsylvania where he's made a late play. he explained in an interview last night on "monday night football" that the grind of his schedule in closing days has made him more energized. >> so what i found that surprised me is more events i did, the more energy i seemed to get. more passion from the people. their desire for change if you will gives me more energy and more...
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Nov 1, 2012
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i can tell you i hope it's going to be mitt romney, but it's going to be very, very close. i think it would have absolutely been mitt except for the hurricane. i think the hurricane has had a profound effect, and i think it's going to help president obama a lot. >> wow. let me ask you about the aftermath of this hurricane. huge impact on communities. typically when you see this kind of devastation, do you think prices go down? does this invite new buyers into the situation because values drop? what's your take? >> well, it's just complete devastation. i know some of the communities. you know, coming from new york and having a lot of businesses in new jersey, i know many of the communities. it's hard to believe what happened to the jersey shore, what happened to certain places that were just beautiful places out on long island. it's complete devastation. it's probably a little bit too early to say, but, you know, there's going to be a big rebuilding process. you could say the rebuilding in terms of putting people to work will be a positive. what's happened to these communiti
i can tell you i hope it's going to be mitt romney, but it's going to be very, very close. i think it would have absolutely been mitt except for the hurricane. i think the hurricane has had a profound effect, and i think it's going to help president obama a lot. >> wow. let me ask you about the aftermath of this hurricane. huge impact on communities. typically when you see this kind of devastation, do you think prices go down? does this invite new buyers into the situation because values...
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Nov 28, 2012
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they're part of governor romney's 47%. they're the moochers. >> warren, if you -- i know you've said in the past that you agree with plans like simpson/bowles, you've gone along with those things. in those plans they take ordinary income and they tax capital gains and dividends at the same levels as ordinary income, they get rid of things like charitable deductions, you go along with all those parts of the plan? >> well, i go a long. i can go along with any number of plans that in general move up the revenue to 18.5% or so of gdp and move down expenses down to 21%. whether it's simpson/bowles, whether it's quick/kernan, you can come out -- >> you left out sorkin. >> well, i -- really, i -- there's all kinds of plans that generally make sense. and i think we'll come up with one. and one of the problems you have is i think you could have a majority of congress before a plan but the far left would not, you know, would have some bolts that didn't like it and the far right would have bolts that didn't like it. and if the leader
they're part of governor romney's 47%. they're the moochers. >> warren, if you -- i know you've said in the past that you agree with plans like simpson/bowles, you've gone along with those things. in those plans they take ordinary income and they tax capital gains and dividends at the same levels as ordinary income, they get rid of things like charitable deductions, you go along with all those parts of the plan? >> well, i go a long. i can go along with any number of plans that in...
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Nov 2, 2012
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if romney does win, i think he's shown the disdain for bernanke and his policies. so the qe could stop. you could actually see gold i think trade even $100 lower from here. $15.159$1,592 level and make a the low it made in may. >> rich, what levels would you want to buy at now that anthony made his comments? >> well, listen, gold is in a 200 range, maybe a $300 range we'll call it for the year. here we are smack in the middle. anthony, you cannot discount the 100 and 200-day moving average in gold. $1,671 is going to be a line in the sand. i came in yesterday long silver, i got crushed. we got stopped out on that position. i don't want to buy quite yet until i see what the dollar does. that's the mover. gold is a follower here. >> okay. so watching the dollar, cautious on gold. now you know how our guys are making money in the commodity pits, what they're watching, but what about you? are you buying or selling gold? logon to futuresnow.cnbc.com. we'll very veal the resulreveal website. catch futures now live and streaming. >> jackie deangelis for us. still to come,
if romney does win, i think he's shown the disdain for bernanke and his policies. so the qe could stop. you could actually see gold i think trade even $100 lower from here. $15.159$1,592 level and make a the low it made in may. >> rich, what levels would you want to buy at now that anthony made his comments? >> well, listen, gold is in a 200 range, maybe a $300 range we'll call it for the year. here we are smack in the middle. anthony, you cannot discount the 100 and 200-day moving...
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Nov 7, 2012
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you talk about the romney surprise. the people in the market. you were hosting this and they said at 8:30, 9:00 that romney had it in the bag. you might have been shorting hca if that was the case. >> ubs on uhs. >> i find it more undervalued. it's very liquid. i want to be careful with these. in the end you have to deal with the next quarter. that's probably not such a blowout. we always want to project what will happen in 2013. then we realize we have to deal with what happens aftermath of 2012. i don't like these trades so to speak. i don't like hospital stocks. i'm not going to trade off it. >> these obvious calls. >> obvious calls. >> going long hmos and going short goal, is that trade done? >> coal is the one i would say be careful and should sell. that's a stroke of a pen. romney could have got those epa guys out. epa gets more entrenched. you are getting the word right now that says phase out those coal plants. get them closed now. you switch to natural gas and that's bad for coal and bad for norfolk southern and bad for csx. >> what eff
you talk about the romney surprise. the people in the market. you were hosting this and they said at 8:30, 9:00 that romney had it in the bag. you might have been shorting hca if that was the case. >> ubs on uhs. >> i find it more undervalued. it's very liquid. i want to be careful with these. in the end you have to deal with the next quarter. that's probably not such a blowout. we always want to project what will happen in 2013. then we realize we have to deal with what happens...
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Nov 9, 2012
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. >> by the way, would everybody have gotten a raise if romney were elected this week? >> everyone would have gotten a raise regardless of who was elected. two weeks ago i called my entire staff together. i said, i want to double sales this coming year, figure out how we can do it. i still plan to have that same target of doubling sales. however, i am not going to take the risk that is necessary to do it, but i'm going to keep our goals -- i'm going to try to turn lemons into lemonade. hopefully i'll be successful in doing it. >> all right. good luck with the lemonade. >> great to have you. thanks so much, david. >> thank you, robert, as well. >> see you soon. we just got about ten minutes before the closing bell sounds for the day. we have a market fractionally higher, well off the highs. nasdaq doing well, up about 14 points. >> what to do with this market? should you sit on the sidelines until the fiscal cliff is fixed or are there real bargains to be had right now? sill vir lakes managing partner is next, and he does see some opportunities. >> we'll talk with him. l
. >> by the way, would everybody have gotten a raise if romney were elected this week? >> everyone would have gotten a raise regardless of who was elected. two weeks ago i called my entire staff together. i said, i want to double sales this coming year, figure out how we can do it. i still plan to have that same target of doubling sales. however, i am not going to take the risk that is necessary to do it, but i'm going to keep our goals -- i'm going to try to turn lemons into...
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Nov 12, 2012
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people buying into a romney victory and then didn't happen that way. what are we looking for in the short term? new york area we're keeping an eye on the energy stocks and looking at some utilities and, of course, insurance, reinsurers, everything related to the hurricane. overall we think it seems to us it's maybe been a little overdone, this pullback, we'll find a level and eke out toward the end of the year. we've had performance squeezes, short squeezes. we think that will be the trend here. we may have found a bottom and we'll start to find lower levels to support us -- i mean, higher levels to support us as we get to the end of the year. >> in terms of tax selling, where would you expect it to come from year end? the technology, low-hanging fruit? >> it could be some. big winners, technology, pharmaceutica pharmaceuticals, some industrials that have done well. it's going to be more large cap base. as i said earlier, that selling is an opportunity for an investor with three to five-year horizon. >> because the corporate sector is quite strong. >>
people buying into a romney victory and then didn't happen that way. what are we looking for in the short term? new york area we're keeping an eye on the energy stocks and looking at some utilities and, of course, insurance, reinsurers, everything related to the hurricane. overall we think it seems to us it's maybe been a little overdone, this pullback, we'll find a level and eke out toward the end of the year. we've had performance squeezes, short squeezes. we think that will be the trend...
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Nov 7, 2012
11/12
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romney -- or mr. obama. stocks were backing mr. romney. the bond traders obviously won. and we just had a key 10-year auction just minutes ago with yields dropping on the 10-year. we're going to head to the chicago pits for reaction. >>> as we head out, a look at some of the most widely held and how they're trading in the sell-off. we have a significant percentage decline in microsoft which is off 2.25%. at&t which is off 2.33%. back in a moment. >>> well, the bond market obviously has been the harbinger today of where a lot of the cash is going to go and the 30-year bond we've seen a yield of 2.81%. the 10-year yield dropping to 1.625%. the 10-year is significant because we had a 10-year note auction just a few minutes ago. $24 billion. jim yurio track being the action at the cme. was that in line with what you were expecting, jim? >> it was. we would expect there to be a thirst for bonds today and there was. they can't get enough of them. a little historical fit bid. on the mon 10-year yields tend to drop 40 basis points in the first month after a democrat is elected.
romney -- or mr. obama. stocks were backing mr. romney. the bond traders obviously won. and we just had a key 10-year auction just minutes ago with yields dropping on the 10-year. we're going to head to the chicago pits for reaction. >>> as we head out, a look at some of the most widely held and how they're trading in the sell-off. we have a significant percentage decline in microsoft which is off 2.25%. at&t which is off 2.33%. back in a moment. >>> well, the bond market...
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Nov 13, 2012
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you had romney talking about it during the campaign. nat gas prices have gone up. the economy seems to be showing some signs of life. all good for the rails? >> i think it's important to draw distinctions. steve weiss is talking about the actual rail operators, whereas what carl icahn is doing, he's selling into the manufacturers who sell rail cars to those operators. these are two very different stories. but i see your point with coal picking up a little bit. but i've got to tell you, you want to be careful about which type of coal and which routes. so i agree with mr. weiss on unp, union pacific. their lines go directly past the powder river basin, where the most highly priced coal being shipped to asia is being taken out. something like a csx is different. it's more way involved with appalachian coal and i don't think it's as clean a story. but carl is making a bet that railroad capex at some point will pick up or he'll be able h will be able to sell the company outright. that's tougher bet to me. >> coming up, we look back on a good trade gone bad. joey t. will
you had romney talking about it during the campaign. nat gas prices have gone up. the economy seems to be showing some signs of life. all good for the rails? >> i think it's important to draw distinctions. steve weiss is talking about the actual rail operators, whereas what carl icahn is doing, he's selling into the manufacturers who sell rail cars to those operators. these are two very different stories. but i see your point with coal picking up a little bit. but i've got to tell you,...
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Nov 19, 2012
11/12
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get romney on here a bunch of times. don't get me started on people that ran that campaign for him. but you were looking for one silver lining when you sat down and all you could come up with was that there are some governors that might not implement the exchanges for obamacare. is that the one thing you're positive about this morning in. >> short term we'll have a lot of turbulence and no small part because the federal reserve is still out to trash the dollar. europe, all the european countries are raising taxes. japan's raising taxes. we're going to raise taxes. just a matter of how much. so we'll have rough sledding next year. but the silver lining is obamacare will get a real adverse reaction, hostile reaction like it did in 2009, 2010. exchanges are one part of it. so i think out of this in the next four or five years you'll see a real push for free markets in health care. and on the monetary side, i think the fed is going over the the cliff so to speak will push reform there to get a stable dollar again. and on the
get romney on here a bunch of times. don't get me started on people that ran that campaign for him. but you were looking for one silver lining when you sat down and all you could come up with was that there are some governors that might not implement the exchanges for obamacare. is that the one thing you're positive about this morning in. >> short term we'll have a lot of turbulence and no small part because the federal reserve is still out to trash the dollar. europe, all the european...
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Nov 19, 2012
11/12
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there were hopes there would be a romney administration. that didn't come to pass so i don't think the smasht liked that. petulant as thatby mafr may be given how the market typically performs under democrats, that said, let's face it, most people on wall street were hoping for a republican victory and that didn't happen. the reaction was to sell the market off. he think there's more at play here than the fiscal cliff. >> let's just up the ante on what brian was saying. even if you don't see it surging you do see the market gaining, right? does it matter what the deal looks like or do we just want to take away the uncertainty and have a deal? >> i think the easy path to a deal is going to be not to cut as much of the budget. i don't sense the pressure there for these deep deficit reductions that were there at the mid-term election last time when we got to this big argument when we got to the budget ceiling. i don't get that same feeling from politicians. think what's going to happen is we're going to have a deal by essentially borrowing mor
there were hopes there would be a romney administration. that didn't come to pass so i don't think the smasht liked that. petulant as thatby mafr may be given how the market typically performs under democrats, that said, let's face it, most people on wall street were hoping for a republican victory and that didn't happen. the reaction was to sell the market off. he think there's more at play here than the fiscal cliff. >> let's just up the ante on what brian was saying. even if you don't...
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Nov 8, 2012
11/12
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some on tuesday because that rally was big and we got the post-election rally, the day ahead of the romney rally so we sold into that, and i thought the sell-off yesterday was pretty severe. again today, i'm not happy that we're not rallying again, but focusing on the fundamentals there are still themes that we still like. housing. that story didn't change overnight. so we sold wire houser and home depot over the last week or so and i would like to buy those back and still buying some of the banks and key bank has not rallied from the spectacular quarter, still like the china story and steve and i disagree on this and we all know that, and i think the turn in china is much better than steve does. i think it will be much longer lasting so we're buying the fxi and bought emerson yesterday and we're not out there with two feet and we're nibbling and picking carefully. >> i got you, we'll get to the china debate in a bit. stephanie makes a pretty good point and it's not like suddenly these themes have changed. housing didn't go from coming back. what are you looking at me like that, joe? >> it
some on tuesday because that rally was big and we got the post-election rally, the day ahead of the romney rally so we sold into that, and i thought the sell-off yesterday was pretty severe. again today, i'm not happy that we're not rallying again, but focusing on the fundamentals there are still themes that we still like. housing. that story didn't change overnight. so we sold wire houser and home depot over the last week or so and i would like to buy those back and still buying some of the...
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Nov 16, 2012
11/12
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the union blames romney. really? the throwdown is coming up. >>> as we head toward the close, it looks like famous last words. volatility may be settling down a bit. the dow was up more than 40 points a moment ago. now up 29. volume surely will spike here on the close because it is expiration day on wall street. a lot of options and futures are expiring right now. so everybody from washington to wall street is talking about fixing the debt. here's what alan simpson of the simpson/bowles commission told maria on the program yesterday. listen to this. >> the big bang theory of the universe was 13,600,000,000 years ago. that ain't even close to 1 trillion, and we owe 16 of those babies. >> we don't want to lose sight of what the debt is. just remember, it is $16 trillion. what can you get for that? >> indeed, what can you get for $16 trillion, besides a swift kick towards the fiscal cliff? why not buy apple, exxon, walmart, google, and ibm all of them combined. >> not just as a group, but eight times as a group. you cou
the union blames romney. really? the throwdown is coming up. >>> as we head toward the close, it looks like famous last words. volatility may be settling down a bit. the dow was up more than 40 points a moment ago. now up 29. volume surely will spike here on the close because it is expiration day on wall street. a lot of options and futures are expiring right now. so everybody from washington to wall street is talking about fixing the debt. here's what alan simpson of the...
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Nov 14, 2012
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that was mitt romney's plan. it's starting to get traction with democrats. you could end the benefit on second homes and vacation properties or you could eliminate the whole thing all together. obviously the realtors, home builders, anybody making money off housing is opposed to changing this deduction at all. jerry howard, ceo of home builders association, says even the debate is "chilling the market." gary thomas, president over at national association of realtors says the mortgage interest deduction is vital to the stability of the american housing market and the economy. now, whatever cut is adopted, if it's adopted, it would hit those hardest who are at the beginning of a big mortgage and therefore are paying the most in interest. that's how mortgages work. and that is big because so many people have recently refinanced so they are all at the beginning. this one is going to be really interesting. simon? >> thank you very much for that diana. scary. >> interesting. >> thank you very much. we were talking about -- have you seen the tax breaks going on fle
that was mitt romney's plan. it's starting to get traction with democrats. you could end the benefit on second homes and vacation properties or you could eliminate the whole thing all together. obviously the realtors, home builders, anybody making money off housing is opposed to changing this deduction at all. jerry howard, ceo of home builders association, says even the debate is "chilling the market." gary thomas, president over at national association of realtors says the mortgage...
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Nov 20, 2012
11/12
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this is not to suggestion that governor romney is this way. it's the way his policies were constructed, presented, created a discomfort level so great your story tells it all. you had a fellow who laid out the free market, but he couldn't be for governor romney because he's gay. >> is it the policies of the party -- >> no, the policies end up being trumped by the core 47%. so you might agree with the fiscal -- >> it's the party platform. ultimately if you have to get through the primaries and rely on this core sort of right group how do you do that? how do you get past those policies? >> you got to have a team that gets you back to the center real fast. >> you're saying lie to one group to get to the other group? makes no sense either. >> it's the sad reality of politics and presidential primaries the groups that vote are more to the left or more to the right so you have to cater to the base to become the nominee. >> the president has to cater to a base and if he's going to tack it all back to the center on certain issues, whether it's epa or
this is not to suggestion that governor romney is this way. it's the way his policies were constructed, presented, created a discomfort level so great your story tells it all. you had a fellow who laid out the free market, but he couldn't be for governor romney because he's gay. >> is it the policies of the party -- >> no, the policies end up being trumped by the core 47%. so you might agree with the fiscal -- >> it's the party platform. ultimately if you have to get through...